Solved

When Demand Is Inelastic Within a Certain Price Range,then Within

Question 224

Multiple Choice

When demand is inelastic within a certain price range,then within that price range,


A) an increase in price would increase total revenue because the decrease in quantity demanded is proportionately less than the increase in price.
B) an increase in price would decrease total revenue because the decrease in quantity demanded is proportionately greater than the increase in price.
C) a decrease in price would increase total revenue because the increase in quantity demanded is proportionately smaller than the decrease in price.
D) a decrease in price would not affect total revenue.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions